Retailers

Watchfinder looking to expand following surge in sales

Pre-owned watch retailer, Watchfinder, is looking to expand after it announced that on average over 12 months it has both sold and purchased one watch every 30 minutes.

In the last year Watchfinder has sold an average of 560 Rolex, 175 Omega and 126 Tag Heuer watches each month, with an average sale of just under £5,000.

Watchfinder said the highlight month was December last year, in which the company saw over 1,600 watches including 730 Rolex.

The increase in units sold saw Watchfinder record its most successful financial year to date,  reaching turnover of £68m. This resulted in its turnover to date reaching in excess of £220m.

The company, which buys watches from the public and reconditions them to sell back to the public, has made “extra efforts” to buy more stock due to the increase in sales. In the past 12 months, the company has purchased over 16,000 watches – an average of 1,383 a month.

Meanwhile, it has also opened two further retail stores during the period, a northern flagship in Leeds and a purchasing office in Burlington Arcade, central London.

Watchfinder said, due to the successful year, it is now looking to expand into foreign markets, a plan that is already in motion following the launch of the US and Australian versions of its website earlier this year.

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